Sawyer & Company Inc Reduces Stock Position in Sysco Corporation (NYSE:SYY)

Sawyer & Company Inc trimmed its position in Sysco Corporation (NYSE:SYY) by 5.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 56,726 shares of the company’s stock after selling 3,055 shares during the quarter. Sysco makes up 1.7% of Sawyer & Company Inc’s portfolio, making the stock its 19th biggest position. Sawyer & Company Inc’s holdings in Sysco were worth $4,257,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC lifted its holdings in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Sysco in the 4th quarter worth $29,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the 4th quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco in the 4th quarter worth $31,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Barclays lowered their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.00.

Sysco Trading Up 1.0%

Shares of NYSE SYY opened at $74.71 on Friday. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The stock has a market capitalization of $36.21 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.39 and a beta of 0.81. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23. The business has a fifty day moving average price of $72.41 and a 200 day moving average price of $73.59.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is currently 52.85%.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.